Retail forecasters say 2018 will see even more mall closures than 2017. Liz Timmerman of Lizzy G’s Gift Shop in Vintage Park offered a few factors.
“Online shopping is hurting most local retail – and that certainly includes big and small stores in shopping malls.” She said the new trend she and her co-owner followed was seeing shop owners leaving traditional spaces like malls and opting for “Lifestyle Centers.” That’s where you can walk around, go out to eat, shop, visit your doctor and your lawyer and then get your hair done all in one outdoor destination.” That’s why they chose Vintage Park for their gift shop.
Experts see more stores could be closing across the U.S. than we ever read about, leaving malls with even bigger gaps to fill.